Baghdad (IraqiNews.com) The General Authority for Free Zones associated to the Ministry of Finance concluded a contract with a local company to establish oil exchange area among the international companies and the local ones in Basra province at a land piece of 4600 acres.

The Director of the Authority, Sabah Salih al-Qaisi said “The Free Zones Dept signed a contract with Basra Company to erect a free zone to be devoted for the oil projects in Khor al-Zubair district of Basra.”

He referred that “The Iraqi Government started procedures to coordinate with Iran, Jordon, Turkey and Syria to turn the common commercial exchange areas into free zones.”